Metropolitan Statistical Area (MSA):
Palestine, TX is a Metropolitan Statistical Area (MSA) comprising counties including Anderson County.
There are many factors influencing real estate trends in the Palestine, TX metropolitan statistical area (MSA). The most significant factor is population growth. According to the U.S. Census Bureau, the population of the MSA grew by 4.8% between 2010 and 2018. This population growth is driving demand for housing, which is pushing up prices and causing a shortage of available homes for sale.
Another factor influencing real estate trends in the MSA is the strong local economy. The unemployment rate in the MSA was just 3.5% in December 2019, well below the national average of 3.9%. This low unemployment rate indicates that people who want to buy homes in the MSA are able to find good-paying jobs and can afford to purchase a home.
Finally, another factor impacting real estate trends in the MSA is interest rates. Interest rates on home loans are currently at historic lows, making it an attractive time to buy a home. All of these factors – population growth, strong local economy, and low interest rates – are contributing to an increase in demand for housing in the Palestine, TX MSA and causing prices to rise.
|75861||9,126||30.8||America/Chicago||31.85323||-95.89240||Tennessee Colony||Anderson County||Texas|